ProShares UltraPro Correlations

TTT Etf

USD 67.63 1.35 2.04%

The current 90-days correlation between ProShares UltraPro Short and VanEck Robotics ETF is -0.31 (i.e., Very good diversification). The correlation of ProShares UltraPro is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares UltraPro Correlation With Market

Poor diversification

The correlation between ProShares UltraPro Short and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro Short and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares UltraPro Short. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with ProShares Etf

1.0	TBT	ProShares UltraShort	Pair Corr
1.0	TMV	Direxion Daily 20	Pair Corr
0.99	TBF	ProShares Short 20	Pair Corr
0.83	PST	ProShares UltraShort	Pair Corr
0.84	TYO	Direxion Daily 7	Pair Corr
0.71	TAPR	Innovator Equity Defined	Pair Corr
0.66	SIXD	AIM ETF Products	Pair Corr
0.69	XISE	FT Cboe Vest	Pair Corr
0.68	APRW	AllianzIM Large Cap	Pair Corr
0.68	SCIO	First Trust Structured	Pair Corr
0.63	ALTY	Global X Alternative	Pair Corr
0.63	IGSB	iShares 1 5	Pair Corr
0.66	AVDE	Avantis International	Pair Corr
0.73	SAEF	Schwab Strategic Trust	Pair Corr
0.63	ITDF	iShares Trust	Pair Corr
0.76	GAPR	First Trust Exchange	Pair Corr
0.66	FNX	First Trust Mid	Pair Corr
0.72	SRLN	SPDR Blackstone Senior	Pair Corr
0.69	FDRR	Fidelity Dividend ETF	Pair Corr
0.63	SLYG	SPDR SP 600	Pair Corr
0.71	RFDI	First Trust RiverFront	Pair Corr
0.65	ROE	Astoria Quality Kings	Pair Corr
0.63	IQSM	Iq Candriam ESG	Pair Corr
0.61	DVY	iShares Select Dividend	Pair Corr

Moving against ProShares Etf

0.74	VIXM	ProShares VIX Mid Low Volatility	Pair Corr
0.74	VXZ	iPath Series B Low Volatility	Pair Corr
0.7	VXX	iPath Series B Low Volatility	Pair Corr
0.7	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.44	YCL	ProShares Ultra Yen	Pair Corr
0.34	FXY	Invesco CurrencyShares	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.16	-0.03	0.2	0.05	-0.35	0.25	0.14	0.04	0.16	META
MSFT	0.16		0.74	-0.55	0.28	0.35	0.44	-0.02	-0.8	-0.72	MSFT
UBER	-0.03	0.74		-0.48	0.33	0.52	0.1	-0.2	-0.8	-0.53	UBER
F	0.2	-0.55	-0.48		-0.52	-0.28	0.0	0.4	0.7	0.66	F
T	0.05	0.28	0.33	-0.52		0.46	-0.25	-0.27	-0.37	-0.38	T
A	-0.35	0.35	0.52	-0.28	0.46		-0.07	-0.06	-0.33	-0.56	A
CRM	0.25	0.44	0.1	0.0	-0.25	-0.07		0.69	-0.15	-0.5	CRM
JPM	0.14	-0.02	-0.2	0.4	-0.27	-0.06	0.69		0.29	-0.13	JPM
MRK	0.04	-0.8	-0.8	0.7	-0.37	-0.33	-0.15	0.29		0.68	MRK
XOM	0.16	-0.72	-0.53	0.66	-0.38	-0.56	-0.5	-0.13	0.68		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

UBER	+ 0.74	MSFT
MRK	+ 0.7	F
JPM	+ 0.69	CRM
XOM	+ 0.68	MRK
XOM	+ 0.66	F
A	+ 0.52	UBER

High negative correlations

MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.72	MSFT
XOM	- 0.56	A
F	- 0.55	MSFT
XOM	- 0.53	UBER

ProShares UltraPro Competition Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraPro ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze ProShares UltraPro's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.61	(0.08)	0.00	(0.04)	0.00	0.00	3.43	(2.72)	11.42
MSFT	1.23	(0.32)	0.00	(1.41)	0.00	0.00	1.85	(2.70)	13.28
UBER	1.46	(0.30)	0.00	(0.36)	0.00	0.00	2.46	(3.82)	10.23
F	1.24	0.05	0.04	0.08	1.23	(1.46)	3.38	(2.35)	7.16
T	0.96	0.05	0.02	0.23	1.04	(1.03)	1.85	(1.85)	3.77
A	1.19	(0.18)	0.00	(0.10)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.30)	0.00	(0.25)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	(0.03)	(0.01)	0.01	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.24	0.50	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.08	0.31	0.23	3.83	0.95	(1.26)	2.38	(1.51)	5.82

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